FINANCE MINISTER SURENDRA PANDEY ANNOUNCES DETAILS OF BUDGET PROMULGTED THROUGH ORDINANCE BY PRESIDENT

By Bhola B Rana

Kathmandu, 20 Nov.: Finance Minister Surendra Pandey Saturday announced details of a Rs 337.9 billion budget for the remaining eight months of the fiscal year 2010/11
while disclosing it at the meeting hall of the National Planning Commission.
Maoists Friday night prevented Pandey from presenting it in parliament by amending the interim constitution.
He was mauled by lawmakers of the
main opposition.
President Dr Ram Baran Yadav promulgated the budget through ordinance on the recommendation of the cabinet after parliament session was prorogued Friday night.
Pandey addressed members of the cabinet, ladies and gentlemen while presenting the budget.
Altogether 53 percent money has been earmarked for development and 47 percent for regular expenditure.
This isn’t the first time the budget has been promulgated through ordinance amid frequent political turmoil.
The document laws announced invoking article 93 of the interim constitution.
The finance minister said the budget Saturday was presented ‘under special circumstance’.
Maoists at a news conference Saurday blamed he government which should take full responsibility for what happened in parliament.
“Government should take full responsibility,” Vice-chairman Narayan Kazi Shrestha said charging the ‘government’s forceful attempt to table the budget was unconstitutional, undemocratic and against the understandings between the parties.”
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he added. “We have warned about the protest during talks and the meeting of the Business Advisory Committee on Friday.”
Chairman Prachanda also blamed the government for the violence in parliament.
The finance minister said Saturday the damaged budget brief case will be exhibited at the National Museum for public viewing.
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NBL RECORDS RS. 197.25 MILLIONNET PROFIT

Kathmandu, 20 Nov.: Nepal Bank Ltd (MBL) recorded a Rs. 197.25
million net profit in Q1 of the current fiscal year ending
mid-October.
The country’s oldest commercial bank recorded a Rs 73.5 million
net profit in the corresponding previous year quarter.
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